The Cannes Lions Festival of Creativity in 2023 has introduced a new category of Entertainment Lion for Gaming intending to, celebrate creative work that joins people to brands via gameplay. Thus, the year 2023 marks the entrance of gaming and the metaverse at the Cannes Lions Festival of Creativity 2023. The festival will be held in France between June 19 and 23 and will focus on inclusivity and sustainability.
With the growing popularity of the buzzy Metaverse, the organizers have expanded the category of – New Realities and Emerging Tech. Metaverse is defined as a creative application of immersive experiences with creativity that pushes the boundaries of technology. With the growing popularity of the gaming ecosystem, nearly three billion users are becoming more and more attractive to advertisers.
As per the Accenture reports, the total value of the global gaming industry will exceed $300 billion by 2021, surpassing the combined markets for movies and music.
The organizers announced- Entries will need to demonstrate how brands successfully tapped into complex gaming communities and seamlessly added real value to the overall gaming experience while driving commercial success.
Metaverse has also witnessed a huge increase in popularity in the last two years. With brands like AR and VR to woo GenZ and Facebook rebranding itself as Meta, Bloomberg has estimated Metaverse to be valued at $800 billion by 2024.
Commenting on this Niraj Ruparel, Emerging Tech Lead at WPP India, Head Of Mobile and Emerging Tech at GroupM India said- The involvement of gaming and metaverse at Cannes Lions 2023 reflects the changing nature of the creative and advertising industries, and the importance of staying on top of emerging trends and technologies. Gaming has become one of the key applications of the metaverse, and it offers various opportunities for advertisers.
In the future, metaverse gaming will become an even more important part of the entertainment field. Advertisers will have the opportunity to approach a large and more involved audience through metaverse. They can create branded experiences, such as virtual product placements or branded games, that permit consumers to interact with their products in a fun and engaging way. They can also use data and analytics to better understand behavior and priorities of consumers. They can modify their advertising efforts to deliver experiences that are more personalized and useful.
Follow and connect with us on Facebook, LinkedIn & Twitter
